The future of green investments is inextricably linked to the outlook for the cost of carbon. In this article, we look at the current path of carbon reduction and its outlook. We also look at regulatory and private sector trends in Europe.

Blockchain is a technology which allows for an automatic and safe check and execution of transactions. Blockchain offers the opportunity to finance trade more cheaply and with less risk. Banks will remain an important player in trade finance.

The oil-rich Gulf Cooperation Council (GCC) countries suffer from the oil price slump while diversification will prove difficult. In the short-run, the necessary budgetary consolidation Oman, Bahrain and Saudi Arabia will weigh on political risk.

Egypt’s economic growth will slow in 2016, as tourism is hurt by last year’s terrorist attacks. The industrial sector is helped by an EGP devaluation and the resulting greater access to FX. The lack of structural reforms will continue to weigh on growth.

Macro economically, China is in calmer water now but medium term risks have been on the rise, at the same time. Debt keeps piling, especially for state owned enterprises, which boast ever lower profits. As a result the asset quality of loans, and consequently financial stability, are coming under pressure.

The Swiss export sector was affected by a sharp appreciation of the Swiss Franc (CHF) following the Swiss central bank’s (SNB) decision to scrap the currency ceiling early 2015. However, economic growth held up and we expect a rebound of economic growth and exports this year.

The success of anti-establishmentcandidate statistically explained by stagnant median wages and declining manufacturing employment. When these trends persist, Trump and his successors are here to stay.

Ireland posted very strong growth of 7.8% last year which supports deleveraging and house prices but asset quality of banks remains poor and could hurt banks and the government in the future. As possibly worst affected, Ireland is closely following the Brexit debate.

A balance of payments crisis is unlikely in today’s Asia. Most countries have improved their current accounts and FX reserves. The rising debt load may however pose problems, although it nowadays is mainly local currency denominated.